Marlboro Transactions X 5 point(s) possible (Clic 2019 Dec. Required 31 Estimated that bad debt expense for the year was 4 percent of credit sales of $389,500 and recorded that amount as expense 31 Made the closing entry for bad debt expense 2020 Mar 26 Sold inventory to Mariella Smith, $10,300.00, on credit terms of 2/10, n/30. Ignore cost of goods sold Requirer balances off. Rour Sep Nov Begin by Dec Dec. 31 Dec Date 2019 Dec 31 15 Wrote off Mariella Smith's account as uncollectible after repeated efforts to collect from her. 10 Received $5,300 from Smith, along with a letter stating her intention to pay her debt in full within 30 days Reinstated her account in full 5 Received the balance due from Smith 31 Made a compound entry to write off the following accounts as uncollectible: Barry Krisp, $1,600 Mo Vanez S840 00 and Rick Johnson, $12.570) 31 Estimated that bad debt expense for the year was 4 percent of credit sales of $920,000 and recorded the expense 31 Made the closing entry for the bad debt expense btful Accounts and Bad Debt Expens sting entry, Clos. Closing entry. expense Print Dono Time Remaining: 01 47 00